Fed’s Barr phone calls Silicon Valley Bank failure a ‘textbook situation of mismanagement’

Crucial Details

Fed Governor Michael Barr, the central bank’s vice chair for supervision, introduced organized remarks that he will produce to two congressional panels concerning the failure of Silicon Valley Bank.
“To get started, SVB’s failure is a textbook scenario of mismanagement,” he said.
Beyond that, Barr stated he sights the wellbeing of the banking process in normal as “audio and resilient, with solid capital and liquidity.”

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